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    CRM (Customer Relationship Management)

    Definition:
    CRM refers both to a strategy and the software used to manage a company’s interactions with customers and prospects. A CRM platform centralizes customer data, tracks interactions across channels (email, calls, chat), manages leads and sales pipelines, and automates workflows like follow-ups, onboarding, or feedback collection.

    CRMs are essential for both B2B and B2C companies and are increasingly powered by AI to predict behavior, personalize messaging, and recommend next best actions.

    Core CRM Capabilities:

    • Lead and contact management
    • Sales tracking and forecasting
    • Customer segmentation and targeted marketing
    • Support ticketing and service history
    • Omnichannel communication (email, WhatsApp, chatbots)

    Why Businesses Use CRM:

    • Builds strong customer relationships
    • Improves sales and marketing alignment
    • Increases conversion rates and upselling
    • Tracks customer lifecycle from first touch to retention

    Popular CRM Tools:

    • Salesforce, HubSpot, Zoho CRM, Pipedrive, Microsoft Dynamics CRM

    Example Scenario:
    A sales rep uses CRM to log every interaction with a lead, see what emails they opened, schedule follow-ups, and track the deal’s progress through the funnel. The system also recommends similar leads based on AI behavior models.